Lotos seeking new oil deposits and Petrobaltic shares

According to Lotos president Pawel Olechnowicz, there is a chance that the firm will sign a letter of intent to buy new deposits this year. "We are most interested in deposits in Kazakhstan and the Caspian Sea," said Olechnowicz. A significant part of the search will be handled by Petrobaltic, however, further information outside of a boost in search efforts in the Baltic sea were not released. By the end of the year Lotos intends to buy the remaining 30.36% stake in Petrobaltic from the state treasury which, according to one of the analyzed scenarios, may be simply transferred to the company. (Puls Biznesu, p. 12) M.M.